Chevron Corporation $CVX Shares Acquired by REAP Financial Group LLC

REAP Financial Group LLC grew its holdings in shares of Chevron Corporation (NYSE:CVX) by 110.1% in the second quarter, HoldingsChannel reports. The fund owned 704 shares of the oil and gas company’s stock after buying an additional 369 shares during the period. REAP Financial Group LLC’s holdings in Chevron were worth $101,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd boosted its position in Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 122 shares during the period. Elequin Capital LP acquired a new position in Chevron during the 1st quarter worth $31,000. Cloud Capital Management LLC acquired a new position in Chevron during the 1st quarter worth $39,000. Investment Management Corp VA ADV boosted its position in Chevron by 171.3% during the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 149 shares during the period. Finally, 1 North Wealth Services LLC acquired a new position in Chevron during the 1st quarter worth $45,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the transaction, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Chevron Stock Up 0.6%

CVX opened at $154.92 on Wednesday. The stock’s fifty day moving average is $156.15 and its 200-day moving average is $148.84. The company has a market capitalization of $267.70 billion, a PE ratio of 19.94, a P/E/G ratio of 1.99 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.55 earnings per share. On average, equities analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a dividend of $1.71 per share. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. Chevron’s payout ratio is currently 88.03%.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a research report on Saturday, September 27th. UBS Group boosted their price objective on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Wells Fargo & Company reissued an “overweight” rating and issued a $178.00 price objective on shares of Chevron in a research note on Friday, August 1st. Morgan Stanley began coverage on Chevron in a research note on Monday, August 4th. They issued an “overweight” rating and a $174.00 price objective on the stock. Finally, Melius began coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective on the stock. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Chevron has an average rating of “Hold” and an average price target of $165.15.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.